The first phase will enable de-watering of the Lake Way Williamson Pit that contains the highest-grade brine resource in Australia.
Lake Way's initial ponds, which will be the country's first commercial-scale on-lake SOP ponds, will have the capacity to hold 1.2 gigalitres of Williamson Pit brine at an average SOP grade of 25 kilograms per cubic metre.
This contains the equivalent of 32,000 tonnes of premium SOP.
At the Bibemi project, geologists found orogenic-style gold mineralisation, which is formed when the earth’s crust folds.
Among the more eye-catching returns was six metres at just over three grams per tonne of the yellow metal with individual veins measuring up to 13.7 grams per tonne.
The Government of Indonesia (GOI) has formally approved a feasibility study for the project along with the environmental impact assessment (AMDAL) for the project.
The parallel approval of the AMDAL is a major milestone for the company, Asiamet said, as this process along with subsequent approvals typically takes between 6-12 months following the approval of the GOI feasibility study.
This money will be used to continue with exploration work across the company’s Australian assets, including follow-up work on Havieron, where Greatland drilled a world-class intercept of 275 metres grading 4.77grams gold and 0.61% copper.
Work on the Black Hills, Ernest Giles and Firetower projects will also continue.
Strategic Minerals PLC (LON:SML) shares were lifted on Thursday after saying it plans to restart copper production at the Leigh Creek copper mine’s Mountain of Light (MoL) processing facility in April.
John Peters, managing director of the exploration firm, said the restart was “a significant step” toward full-scale production at the project, which is scheduled for late 2019 and early 2020.
ABM, which was refinanced in January, owns copper, nickel and cobalt assets in the DRC, Cameroon and Ivory Coast.
A new management team also took over at the same time led by ex-Regency Mines boss Andrew Bell and Johnson.
Chief executive Patrick Cullen, finance director James Bill and non-executive director David Cockbill all put their hands in their pockets, buying a combined £25,000 worth of shares.
The exploration firm said under the agreement, it would have an option to acquire a 50% stake in the project before 1 October 2019 after spending up to US$200,000 to assess the suitability of the project for a resource drilling programme and a feasibility study.
Colin Bird, executive chairman of Xtract, said that they believed there was potential for “a large mineralised body” as previous work at the site had provided a platform for exploration that “may lead to a large-scale copper-gold resource”.
Key lithium intersections include: 21 metres at 1.50% lithium oxide (Li₂O), 20 metres at 1.36% Li₂O, 21metres at 1.24% Li₂O, and 14 metres at 1.41% Li₂O.
Drilling is continuing. Both the Aldeia and the newly discovered Pinheiro deposits will now be incorporated in an expanded and fully-funded definitive feasibility study, the completion of which will now extend into the second half of the year.
The AIM-listed firm said 250 metres of rotary air blast drilling has been completed to date in ten target holes at Black Cat within ECR ground immediately south of ground recently applied for by Newmont Exploration.
The company noted that wide zones of alteration were intersected in seven holes and quartz veining in two holes and, to date, 77 samples have been delivered for laboratory assay testing with results awaited.